Companies in the United States and Canada have been facing a wave of job cuts in 2024, adding to the thousands of layoffs that occurred last year. The uncertain outlook on potential interest rate cuts by the Federal Reserve has left businesses grappling with economic unpredictability, even as recession concerns diminish.
Within the technology sector, major players have announced significant layoffs this year. Amazon revealed job cuts affecting various units such as Buy with Prime, Audible, streaming, and Twitch, as well as roles at healthcare divisions like One Medical and Amazon Pharmacy. Alphabet, Microsoft, IBM, Intel, and Paramount Global have also implemented workforce reductions as part of strategic realignment efforts.
Intel, for instance, disclosed plans to reduce over 15% of its employees, equating to approximately 17,500 individuals, in a bid to refocus its attention on reshaping its manufacturing business. These developments underscore the challenges that companies are facing as they navigate the evolving economic landscape.
As the business environment continues to evolve, it remains crucial for companies to adapt and make necessary adjustments to remain competitive and sustainable in the face of economic uncertainties. The job cuts seen across various sectors highlight the need for strategic workforce planning and agile decision-making to address the changing market conditions effectively.
Greaves Cotton Limited, a leading diversified engineering company in India, has reported robust results for the first quarter of FY25. The company's standalone revenues grew by 12% year-on-year to INR 445 crore, with quarterly EBITDA reaching INR 50 crore, also up by 12% year-on-year. On a...
Draganfly Inc., a renowned drone solutions and systems developer, is scheduled to host a shareholder update call on August 13th, 2024, at 5:30pm EST. The company's CEO Cameron Chell will lead the call, discussing key milestones, while CFO Paul Sun will delve into the financial results for Q2...
Greaves Cotton Limited, a prominent diversified engineering company in India, has announced its robust performance for Q1 FY25. The company reported a 12% year-on-year revenue growth, reaching INR 445 crore on a standalone basis. Additionally, the quarterly EBITDA stood at INR 50 crore,...
EyeROV, a marine robotics deep-tech startup, has successfully secured INR 10 Crore ($1.2 million) in a Pre-Series A funding round led by Unicorn India Ventures. This funding will play a crucial role in strengthening EyeROV's presence in international markets and advancing the development of...
FPT Semiconductor, a subsidiary of FPT Corporation, is gearing up for collaboration with Korean enterprises to capitalize on the 'Semiconductor Wave' in Vietnam. At the Vietnam-Korea Semiconductor Cooperation Conference in Hanoi, Mr. Tran Dang Hoa, Chairman of FPT IS and FPT Semiconductor,...
